22 immutable laws of marketing

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Sohail Riaz, Master Trainer & Keynote speaker KASH(Knowledge, Attitude ,Skills & Habit) Development, Islamabad ,Pakistan [email protected] Al Ries Jack Trout

Transcript of 22 immutable laws of marketing

Page 1: 22 immutable laws of marketing

Sohail Riaz, Master Trainer & Keynote speaker

KASH(Knowledge, Attitude ,Skills & Habit) Development, Islamabad ,Pakistan [email protected]

Al Ries Jack Trout

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My favorite Guerilla

Marketing gurus, Al Ries and

Jack Trout, offer The 22

Immutable Laws of

Marketing. Although it was

written almost 20 years ago,

the innovative rules still

provide a solid

understanding of how to

succeed in the marketplace.

Sohail Riaz

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The 22 Laws should be used as a 'diagnostic check' of a

company's market plan for a given product or service; it is

probably a useful exercise to cross-check your own plans against

the 'laws‘, if only to ensure that all possible perspectives and issues

have been considered.

The second use is a reminder of the importance of the

perception of your service or product in the mind of your

customer (and the consequent need to undertake qualitative

research such as focus groups and depth interviews to better

understand and define this perception).

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The Law of Leadership

It is better to be first than it is to be better.

It’s much easier to get into the

mind first than try to convince

someone that you have a better

product.

Who was the 2nd President of USA?

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Coca-Cola calendars go a long way back. The first one was produced in 1891, ...

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The Law of Category If you can’t be first in a category, set up a new category you can be first in.

Everyone is interested in what’s new.

Few people are interested in what’s

better.

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If you can’t be first in a category. Set up a new category to be first in.

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The Law of the Mind

It’s better to be first in the mind

than to be first in the market

Being first in mind is everything. Being

first in the market is only important in

that it allows you to get into the mind

first.

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If better to be first In the mind, than to be first in the marketplace

The Law of the Mind

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The Law of Perception

Marketing is not a battle of

products, it’s a battle of perceptions

There is no objective reality. There are

no facts. There are no best products.

All that exists in the world of

marketing are perceptions in the mind

of the customer.

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Marketing is a battle of perceptions.

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The Law of Focus

The most powerful concept in marketing is

owning a word in the prospect’s mind

You “burn” your way into the

mind by narrowing the focus to

a single word or concept.

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The Law of Exclusivity Two companies cannot own the

same word in the prospects mind

When the competitor owns a

word or position in the

prospects mind, it is futile to

attempt to own the same word.

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The Law of Ladder

The strategy to use depends on which

rung you occupy on the ladder.

It might be better to be a small fish

in a big pond than a big fish in a

small pond.

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The strategy to use depends of which rung of the ladder your on.

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The Law of Duality

In the long run, every market

becomes a two horse race

In every new category is a ladder

with many rungs. Gradually, the

ladder becomes a two-rung affair.

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RANK 1 RANK 2 RANK 1 RANK 2

RANK 1 RANK 2

The Law of Duality

In the end, every market becomes a two horse race.

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In the end, every market becomes a two horse race.

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The Law of the Opposite

If you’re shooting for second place, your

strategy is determined by the leader.

The key for #9 is to leverage an

opponents strengths into a

weakness.

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The Law of Division

Over time, a category will divide and

become two or more categories.

As a result of law #10, the

marketing arena will always

be an ever expanding sea of

categories.

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The Law of Perspective

Marketing effects take place over

an extended period of time

Long term effects are often the

exact opposite of the short term

effect. Think of the “always a

sale” retail mentality training a

customer to never buy at full

price.

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Marketing effects takes place over a long period of time.

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The Law of Line Extension

There’s an irresistible pressure to

extend the equity of the brand

A company tightly focused on

a profitable product may

quickly find themselves thinly

spread over many products

and losing a lot of money.

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The Top Ten Best Selling Sodas of 2007

1. Coke Classic 17.2%

2. Pepsi Cola 10.7%

3. Diet Coke 10%

4. Mountain Dew 6.6.%

5. Diet Pepsi 6%

6. Dr. Pepper 5.9%

7. Sprite 5.6%

8. Fanta 1.8%

9. Diet Mountain Dew 1.6%

10. Diet Dr. Pepper 1.6%

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The Law of Sacrifice

You have to give up something

in order to get something.

There are three areas of sacrifice the

product line, the target market and

constant change. Pick your poison

carefully.

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The Law of Sacrifice

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The Law of Attributes

For every attribute, there is an

opposite, effective attribute.

Rule #14 dictates you must find an

attribute to own and that attribute

may just be the opposite of the

leader. Hint hint.

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The Law of Candor

When you admit a negative, the

prospect will give you a positive.

One of the most effective ways to get

into a prospects mind is to admit a

negative and then twist into a

positive.

Think Listerine.

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When you admit a negative, the prospect gives you a positive.

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The Law of Singularity

In each situation, only one move

will produce substantial results.

History teaches that the only thing that

works in marketing is a committed, single

bold stroke that is least expected by the

competition.

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The Law of Unpredictability

Unless you write your competitor’s

plans, you can’t predict the future.

You can not predict the future

but you can get a handle on

trends and take advantage of

change.

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Unless you an write your competitors plans,

you can’t predict the future.

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The Law of Success Success often leads to arrogance

and arrogance to failure.

Those that think they are market

leaders tend to substitute what

they think for what the market

wants.

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The Law of Success

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The Law of Failure

Failure is to be expected

and accepted.

Recognize failure early and cut your

losses. Sometimes it is better to drop

things and move on rather than ‘reorg’

and try again.

IBM should have dropped copiers and

XEROX should have dropped

computers before they recognized their

mistakes

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Success often leads to arrogance, and arrogance leads to failure.

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The Law of Hype The situation is often the opposite of

the way it appears in the press.

When things are going well, you do not

need hype. When you need hype, it usually

means you are in trouble.

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The Law of Acceleration

Successful programs are not built

on fads, they’re built on trends.

A fad is a wave in the ocean,

a trend is the tide. A fad gets

a lot of hype while a trend

gets very little.

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The Law of Resources

Without adequate funding, an

idea won’t get off the ground.

The unfortunate reality is

that a mediocre idea

backed by a million dollars

will get further than a great

idea alone.

Sorry.

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• Without adequate funding an idea won’t get off the ground.

• Regardless of how good a product is, the only product that sells is the once

the consumer is aware of.